Post-pandemic cooperation prospect of Vietnam, Hong Kong The Vietnamese Ministry of Industry and Trade and the Commerce and Economic Development Bureau of the Hong Kong Special Administrative Region Government (China) jointly held a teleconference on post-pandemic economic recovery – Vietnam-Hong Kong partnership on September 20. Speaking to Vietnam News Agency's correspondents, Anthony Lam, Executive Deputy Chairman of the Federation of Hong Kong Industries (FHKI) and CEO and Vice Chairman of the Golden Resources Development International Ltd., said a number of Hong Kong manufacturers have recently expanded production out of Hong Kong and to ASEAN, including Vietnam, for different reasons. About the potential of cooperation between Vietnamese and Hong Kong firms, Lam said Hong Kong is focusing resources on health care and pharmaceuticals so its businesses could consider investment in those fields in Vietnam. He stressed that Vietnam boasts a young, hardworking, … [Read more...] about VIETNAM BUSINESS NEWS SEPTEMBER 20
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Vietnam remains steadfast on pursuing bilateral economic relations with the US towards harmonization and sustainability, according to the Ministry of Foreign Affairs. Any possible US probe into plywood imports from Vietnam should be fair, according to Le Thi Thu Hang, spokesperson of the Vietnamese Ministry of Foreign Affairs (MoFA). US probe into Vietnam plywood imports should be fair. “Such an investigation should take into account international and World Trade Organization (WTO) practices, as well as the sound economic – trade relations between Vietnam and the US,” Hang said at a press conference on June 11, adding it needs to ensure rightful benefits of law-compliant enterprises and customers from the two countries. Hang noted bilateral trade turnover in 2019 hit nearly US$76 billion, up 26.2% year-on-year. Vietnam remains steadfast on enhancing bilateral trade – economic – investment relations with the US towards building harmonious, sustainable and … [Read more...] about US probe into Vietnam plywood imports should be fair: Spokesperson
Nguyen Minh Trang, director of transportation firm Delta, said drivers have to get tested once every two days to meet the requirements of many localities. The cost of a polymerase chain reaction (PCR) test for a pooled sample is VND200,000 ($8.78) per person, and that for a single test is VND700,000-800,000 per sample, depending on each medical facility. This firm spends VND300 million for PCR testing for nearly 150 drivers per month. The cost doubles with long routes running for 4-5 days. "Businesses will be less burdened if they can test themselves for the virus," Trang said. Hanh Phuc, a woodworks company in Dong Nai Province, has kept workers on site since July to keep production going. It has maintained production with 300 workers instead of the usual 650. "In less than two months, we’ve had to do 1,600 tests for 300 workers. On average, each person has to be tested three times a month," said Le Xuan Tan, a director of the company. Similarly, the My Lan Group in Tra … [Read more...] about Local firms groan under burden of Covid testing costs
After acquisition of Mobicast and Reddi, can Masan become the “Reliance Jio” of Vietnam? On September 21, The Sherpa, a subsidiary of Masan Group Corporation, announced an investment of $13 million to acquire a 70-per-cent stake in mobile virtual network operator (MVNO) Mobicast and officially expand to the telecommunications sector. This is Masan's first step into the digital services sector. Mobicast's services target tech-savvy customers with great demand for data usage and digital lifestyle. As a result, the startup can help Masan to complete its offline-to-online offerings of necessities and financial services. An MVNO offers a fast and cost-efficient system to build transmission and reception network infrastructure. Besides this, an MVNO is considered a catalyst for competition in the mobile telecommunications market. MVNO players will develop value-added services on mobile devices, helping to improve quality and diversify experiences. It is estimated that necessities … [Read more...] about After acquisition of Mobicast and Reddi, can Masan become the “Reliance Jio” of Vietnam?
Vietnam is racing against time to vaccinate people in order to soon reopen the economy in affected areas. Vietnam’s Covid-19 cases have reached 707,436 as of Sept. 21, including 67% have recovered, statistics by the Ministry of Health showed. Military medics are important in the pandemic fight in Vietnam. Photo: VNA The total infections were mostly detected in Ho Chi Minh City (49%), Binh Duong (26%), Dong Nai (5%), and Long An (4%). The death toll hit more than 17,000, including 76% in Ho Chi Minh City. The number of average daily infections in Vietnam was 10,330/day over the past week while the number of deaths was 229/day during the week. As the transmission is widespread, Vietnam is racing against time to vaccinate people in order to soon reopen the economy in affected areas. So far, more than 35 million vaccine doses have been administered, including nearly seven million people are fully vaccinated. To get as much vaccine as possible, the country … [Read more...] about Today’s Covid News: Vietnam’s coronavirus infections surpass 700,000
Vietsovpetro's Bach Ho oil field. (Photo: VNA) Hanoi (VNA) – The Vietnam – Russia oil and gas joint venture Vietsovpetro is likely to complete all of its yearly targets in revenue, profit and State budget payment right in September thanks to comprehensive and effective measures to promote production. A representative from the firm said that the fourth wave of COVID-19 that broke out in early May has posed adverse impacts on the health of all workers of Vietsovpetro as well as the operations of the firm as well as the entire oil and gas sector. In order to maintain safe operations amid the pandemic, Vietsovpetro leaders have given drastic and flexible directions on the implementation of solutions to ensure the health of workers and maintain production at the same time. Particularly, the firm has strengthened measures to cut cost and speed up digital transformation to maximise its performance in all conditions and circumstances. By giving proper assessments and … [Read more...] about Vietsovpetro to complete all goals for 2021 in September